IMF Sees Oil Prices 'Somewhat Declining' Through 2013 |
| Wall Street Journal - Apr 10, 2012 |
The International Monetary Fund said Tuesday that it expects prices of oil and other commodities to decline this year and next on the back of a weak global economic outlook, but warned that "sizable" threats to world growth could force a further fall.
The IMF also said a sudden shortage of crude-oil supplies would send prices upward, "but the ensuing slowdown in global growth could lead to a decline in the prices of other commodities."
"The global outlook...is pretty grim still," said senior IMF economist Rupa Duttagupta.
Although recent efforts by Europe to solve its debt crisis have bought temporary respite, economists have warned that it could be about to enter a new phase if the euro zone's fourth-largest economy--Spain--needs a bailout. Also, there are signs that expansion in emerging markets, which have been the primary source of global growth and commodity price pressure during the recovery, may be cooling.
Read Full Article from Wall Street Journal
- Posted: 2012-04-10 10:35:27
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